Shares in Clovis Oncology Inc. (NASDAQ:CLVS) tumbled more than 71% after it warned it is facing bankruptcy with barely enough cash left to last until the end of 2022, debts of more than $3 billion, and dwindling revenues from its only approved cancer drug, Rubraca (rucaparib). Read More

Veru Pharmaceuticals Inc.’s COVID-19 therapy VERU-111 (sabizabulin) failed to win full support from the U.S. FDA’s Pulmonary-Allergy Drugs Advisory Committee, which was asked to decide about endorsing the firm’s request for an emergency use authorization to market the drug. Read More

Election day has come and gone in the U.S., but the question of which party will control Congress remains unanswered, signaling that the country is as divided as ever politically and ideologically. While Democrats and Republicans may agree on problems in the life sciences sector, they often disagree on how to address them. Read More

A mega-deal and high-money buyouts may have given a boost to BioWorld’s Drug Developers Index in October, but safety issues, money troubles and failed trials continue to hold stocks down. Compared with the broader markets, drug development companies are showing the same ups and downs, influenced by rising inflation and a struggling economy, as well as uncertainties caused by war, the COVID-19 pandemic and politics. Read More

NRG Therapeutics Ltd. has closed a £16 million (US$18.3 million) series A round to take forward programs in Parkinson’s disease and amyotrophic lateral sclerosis, after pinning down the target of its brain penetrant small molecules. Read More

A new method for controlling naturally magnetized bacteria has improved the prospects of applying them as vehicles for intratumoral delivery of cancer drugs and in hyperthermia therapy. Read More

New hires and promotions in the biopharma industry, including: Aadi, Areteia, Atriva, Comera, Keystone, Mirati, Nirvana, Oblique, Odyssey, Resolution, Scholar Rock, Urogen. Read More

Biopharmas raising money in public or private financings, including: Athersys, Neurobo. Read More

Clinical updates, including trial initiations, enrollment status and data readouts and publications: Abbvie, Acelyrin, Achieve, Adaptimmune, Alnylam, Amgen, Arrowhead, Astrazeneca, Bicycle, Biosenic, Bridge, Cincor, Dermavant, Galecto, Horizon, Idorsia, Inmagene, Intercept, Ionis, ISA, Janssen, Medincell, Milestone, Mirum, NLS, Novartis, Novavax, Nycode, Onquality, Poxel, Rhythm, Sirnaomics, Vaxxas, Xencor. Read More

Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Ambrx, Arrowhead, Ars, Biofrontera, Breathe Biologics, Dong-A ST, Galapagos, Kinimmune, Kronos Bio, Immunocore, Medison Pharma, Neurobo, Novocodex, Polifarma, Royalty Pharma, Silverback, Therapeutic Solutions International. Read More

Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Aleta, Biomarin, Blue Earth, Immunomic, Merck, Omeros, Oncotelic. Read More